privatisation
Học thuậtThân thiện
Definition
privatisation (noun) The process or act of transferring ownership, control, or management of a business, industry, or service from the government (the public sector) to private individuals or companies (the private sector).
Usage
This term is used primarily in economic and political contexts to describe a major policy shift. It often refers to the sale of state-owned assets, such as companies or utilities, to private investors. The term is spelled privatization in American English.
Examples
- The government announced the privatisation of the national railway company.
- Many economists argue that privatisation leads to greater efficiency and innovation.
- The debate over the privatisation of the healthcare system is ongoing.
Advanced Usage
- Mass privatisation: Refers to a large-scale, rapid transfer of many state assets to private hands, often associated with the economic transition in post-communist countries in the 1990s.
- The mass privatisation programme had significant social consequences.
- To undergo privatisation: A common collocation describing the process from the perspective of the asset or service being sold.
- The state-owned steel plant is scheduled to undergo privatisation next year.
Variants and Related Words
- Privatize (verb, also spelled ): To transfer from public to private control.
- The government plans to privatize the postal service.
- Privatized (adjective): Describing something that has been transferred to private ownership.
- a privatized electricity grid
- Denationalization (noun): A near-synonym, specifically meaning the transfer of a nationalized industry back to private ownership.
Synonyms
- Denationalization
- Deregulation (related but distinct; focuses on removing government rather than transferring )
- Divestiture (in a governmental context)
Antonyms
- Nationalization
- Municipalization
Noun
- changing something from state to private ownership or control